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Central Bank Targets Inflation of 4 Percent
May 09, 2017
Guided by governor Urjit Patel, the Central Bank of India has zeroed in on a 4% inflation rate. However, it has been argued that this won’t give the economy enough room to grow at arate of at least 8% for a full employment.
Despite the concerns by others, RBI is bent on sticking with the 8% rate. In fact, Patel and the remaining members of the MPC (monetary policy committee) are defending RBI’s take on inflation, as one of them said that the market should review the (Reserve Bank of India) Act and think from the perspective of MPC itself, and ask “how would they conduct policy?”.
